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TMI BlogFirst ScheduleX X X X Extracts X X X X X X X X Extracts X X X X ..... exceed of Rs. 25,000 Rs. 2,750 plus 30 per cent. the amount by which the total income exceeds Rs. 20,000; (6) where the total income exceeds Rs. 25,000 but does not exceed Rs. 30,000 Rs. 4,250 plus 40 per cent. of the amount by which the total income exceeds Rs. 25,000; (7) where the total income exceeds Rs. 30,000 but does not exceed Rs. 50,000 Rs. 6,250 plus 50 per cent. of the amount by which the total income exceeds Rs. 30,000 (8) where the total income exceeds Rs. 50,000 but does not exceed Rs. 70,000 Rs. 16,250 plus 60 per cent. of the amount by which the total income exceeds Rs. 50,000; (9) where the total income exceeds Rs. 70,000 but does not exceed Rs. 1,00,000 Rs. 28,250 plus 65 per cent. of the amount by which the total income exceeds Rs. 70,000; (10) where the total income exceeds Rs. 1,00,000 but does not exceed Rs. 2,50,000 Rs. 47,750 plus 70 per cent. of the amount by which the total income exceeds Rs. 1,00,000; (11) where the total income exceeds Rs. 2,50,000 Rs. 1,52,750 plus 75 per cent. of the amount by which the total income exceeds Rs. 2,50,000 : Provided that for the purposes of this Paragraph, in the case of a person, not being a non-resident - (i) no income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore than one child mainly dependent on him or a Hindu undivided family which has more than one minor coparcener mainly supported from the income of such family, so, however, that in the case of a married individual whose spouse has a total income exceeding Rs. 4,000, this clause shall have effect as if for the amounts of 200, Rs. 220 and Rs. 240, the amounts of Rs. 125, Rs. 145 and Rs. 165 had, respectively, been substituted; (iv)(A) where such person is an individual whose total income exceeds Rs. 10,000 but does not exceed Rs. 20,000 and who has, during the previous year, incurred any expenditure for the maintenance of any one or more of his parents or grand-parents mainly dependent on him, the income-tax payable by him in respect of such total income shall not exceed the aggregate of - (1) the income-tax which would have been payable by the individual if his total income had been Rs. 10,000, and (2) forty per cent. of the amount by which the total income of the individual exceeds Rs. 10,000; (B) where such person is not an individual whose case falls under sub-clause (A) and the total income of such person does not exceed Rs. 20,000, the income-tax payable thereon shall not exce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the case of a registered firm whose total income includes income derived from a profession carried on by it and the income so included is not less than fifty-one per cent. of such total income, a surcharge calculated at the rate of ten per cent. of the amount of income-tax computed at the rate hereinbefore specified; (b) in the case of any other registered firm, a surcharge calculated at the rate of twenty per cent. of the amount of income-tax computed at the rate hereinbefore specified; and (c) a special surcharge calculated at the rate of ten per cent. on the aggregate of the following amounts, namely :- (i) the amount of income-tax computed at the rate hereinbefore specified; and (ii) the amount of the surcharge calculated in accordance with clause (a), or, as the case may be, clause (b), of this sub-paragraph. Paragraph D In the case of every local authority, - Rate of Income-Tax On the whole of the total income 50 per cent. Surcharge on income-tax The amount of income-tax computed at the rate hereinbefore specified shall be increased by a surcharge for the purposes of the Union calculated at the rate of ten per cent. of such income-tax. Paragraph E In the case of Life Insur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nment; 50 per cent.; (ii) on the balance, if any, of the total income 70 per cent. PART II Rates for Deduction of Tax at Source in Certain Cases In every case in which under the provisions of sections 193, 194, 194A and 195 of the Income-tax Act, tax is to be deducted at the rates in force, deduction shall be made from the income subject to deduction, at the following rates :- Income-tax Rate of income-tax Rate of Surcharge 1. In the case of a person other than a company- (a) where the person is resident- (i) on income by way of interest other than interest on securities 10 per cent. Nil; (ii) on any other income (excluding interest payable on a tax free security) 20 per cent. 2 per cent.; (b) where the person is not resident in India- (i) on the whole income (excluding interest payable on a tax free security) Income-tax at 30 per cent. and surcharge at 3 per cent. of the amount of the income or income-tax and surcharge on income-tax in respect of the income at the rates prescribed in Paragraph A of Part III of this Schedule, if such income had been the total income, whichever is higher; (ii) on the income by way of interest payable on a tax free security 15 per cent. 1.5 per cent. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act, not being a case to which any other Paragraph of this Part applies, - Rates of Income-Tax (1) where the total income does not exceed Rs. 5,000 Nil; (2) where the total income exceeds Rs. 5,000 but does not exceed Rs. 10,000 10 per cent. of the amount by which the total income exceeds Rs. 5,000; (3) where the total income exceeds Rs. 10,000 by does not exceed Rs. 15,000 Rs. 500 plus 17 per cent. of the amount by which the total income exceeds Rs. 10,000; (4) where the total income exceeds Rs. 15,000 but does not exceed Rs. 20,000 Rs. 1,350 plus 23 per cent. of the amount by which the total income exceeds Rs. 15,000. (5) where the total income exceeds Rs. 20,000 but does not exceed Rs. 25,000 Rs. 2,500 plus 30 per cent. of the amount by which the total income exceeds Rs. 20,000, (6) where the total income exceeds Rs. 25,000 but does not exceed Rs. 30,000 Rs. 4,000 plus 40 per cent. of the amount by which the total income exceeds Rs. 25,000 (7) where the total income exceeds Rs. 30,000 but does not exceed Rs. 40,000 Rs. 6,000 plus 50 per cent. of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch the total income exceeds Rs. 20,000. Surcharge on income-tax The amount of income-tax computed at the rate hereinbefore specified shall be increased by a surcharge for purposes of the Union calculated at the rate of ten per cent. of such income-tax. Paragraph C In the case of every registered firm, - Rates of Income-Tax (1) where the total income does not exceed Rs. 10,000 Nil; (2) where the total income exceeds Rs. 10,000 but does not exceed Rs. 25,000 4 per cent. of the amount by which the total income exceeds Rs. 10,000; (3) where the total income exceeds Rs. 25,000 but does not exceed Rs. 50,000 Rs. 600 plus 6 per cent. of the amount by which the total income exceeds Rs. 25,000; (4) where the total income exceeds Rs. 50,000 but does not exceed Rs. 1,00,000 Rs. 2,100 plus 12 per cent. of the amount by which the total income exceeds Rs. 50,000; (5) where the total income exceeds Rs. 1,00,000 Rs. 8,100 plus 20 per cent. of the amount by which the total income exceeds Rs. 1,00,000. Surcharges on income-tax The amount of income-tax computed at the rate hereinbefore specified shall be increased by the aggregate of surcharges for purposes of the Union calculated as specified hereun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ; (b) on the balance, if any, of the total income 60 per cent.; (ii) in any other case 65 per cent. of the total income; Provided that the income-tax payable by a domestic company, being a company in which the public are substantially interested, the total income of which exceeds Rs. 50,000, shall not exceed the aggregate of (a) the income-tax which would have been payable by the company if its total income had been Rs. 50,000 (the income of Rs. 50,000 for this purpose being computed as if such income included income from various sources in the same proportion as the total income of the company); and (b) 80 per cent. of the amount by which its total income exceeds Rs. 50,000. II. In the case of a company other than a domestic company :- (i) on so much of the total income as consists of- (a) royalties received from an Indian concern in pursuance of an agreement made by it with the Indian concern after the 31st day of March, 1961, or (b) fees for rendering technical services received from an Indian concern in pursuance of an agreement made by it with the Indian concern after the 29th day of February, 1964, and where such agreement has, in either case, been approved by the Central Gov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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